Linklaters

Linklaters has advised Zain, the largest mobile telecommunications provider in Kuwait, on the sale of its African mobile telecommunications business to Bharti Airtel Limited, the largest mobile telecommunications provider listed in India, for an enterprise value of US$10.7bn.

As a result of the transaction, which closed today, Bharti is set to become the world's fifth largest wireless company, with operations in 18 countries and a customer base of around 179 million. It is the second largest overseas acquisition in history by an Indian company and the first significant offshore expansion by an Indian telecommunications operator.

The Zain Africa business consists of operating companies in 15 African countries - Burkina Faso, Chad, Congo Brazzaville, Democratic Republic of Congo, Gabon, Ghana, Niger, Kenya, Madagascar, Malawi, Nigeria, Sierra Leone, Tanzania, Uganda, and Zambia. The transaction excludes Zain's operations in Morocco and Sudan.

Linklaters' team was led by corporate partners Charlie Jacobs and Richard Good and TMT partner Julian Cunningham-Day along with a large team including managing associate Adam Pickard and associate Ishaan Nangia. The deal is the culmination of the firm's relationship with the Celtel Group, which was purchased by Zain in 2005 and became the Zain Africa Group.

Charlie Jacobs commented: "This was a particularly complex deal, involving extensive regulatory analysis in the relevant African countries and drawing upon the expertise of a cross-practice, multi-jurisdictional Linklaters team. The transaction continues our track record of advising on the leading deals in Africa and in the telecoms sector."

Talwar Thakore & Associates provided Indian law advice to Zain. Bharti Airtel was advised by Herbert Smith (English law), Stibbe (Dutch law), and AZB & Partners (Indian law).

Notes to editors

Linklaters LLP specialises in advising the world's leading companies, financial institutions and governments on their most challenging transactions and assignments. With offices in major business and financial centres, we deliver an outstanding service to our clients throughout the world.